Vista Energy (VISTAA) Q4 2024 earnings summary

Executive summary

• Achieved double-digit growth in production and Adjusted EBITDA for 2024, delivering on guidance for both metrics, with total production up 51% year-over-year and P1 reserves rising 18% to 375 million BOEs, reflecting a 323% reserve replacement ratio.

• Share price increased 83% year-over-year, reflecting strong operational and financial performance.

• Significant progress in sustainability, reducing GHG emissions intensity by 44% year-over-year.

• Tied-in 50 new wells in 2024, supporting production growth and strong shale oil development.

Financial highlights

• Q4 2024 total revenues reached $471 million, up 52% year-over-year; full year revenues were $1,647.8 million, a 41% increase over 2023.

• Adjusted EBITDA for Q4 was $273 million, down 5% year-over-year, but full-year Adjusted EBITDA grew 25% to $1.1 billion.

• Net income for Q4 was $94 million; adjusted net income was $22 million after deferred tax; full-year net income was $477.5 million.

• Free cash flow in Q4 was $57 million; full-year free cash flow was negative $92.9 million.

• Lifting cost for 2024 was $4.6 per BOE, down from $5.1 in 2023.

Outlook and guidance

• 2025 production guidance: 95,000–100,000 barrels of oil per day, implying 35–40% growth.

• Lifting costs for 2025 guided between $4.3–$4.5 per barrel.

• CapEx for 2025 expected between $1–$1.3 billion, excluding Vaca Muerta Sur investment.

• Focus on profitable growth, operational efficiency, and emissions reduction.